Nabil Yusuf Patel Reveals: 8 Interesting facts about the Indian real estate sector
India's
real estate sector is one of the fastest-growing sectors
in India. It’s world-renowned for its iconic structures and the ever-changing
market dynamics. Buyers from all across the world are interested in investing
in this market. If you are interested in the Indian real estate sector and what
its pioneers like Nabil Yusuf Patel
thinks, here are a few interesting facts :
Going online
According
to prominent real estate developers like Nabil
Patel Director DB Realty, a lot of people depend on the internet as a
preferred medium of home search in India. It is estimated that there are
around 462 million internet users across the country and India has one of the
biggest online markets in the world. According to a survey, as many as 20
million Indians search for homes on the internet every month. Internet influences
nearly 53 per cent of all the real estate transactions in India.
Employment Generation
The
agriculture industry is the largest employer in the country. Right behind it,
the real estate sector stands as the second-largest employer. Also, immense
growth is expected from this sector in the near future. It is estimated, the
real estate sector contributes around five to six per cent to the
country's GDP.
It is the second-largest residential colony in Asia
The
second-largest residential colony is in Kankarbagh in Patna which covers an
area of 900 acres. This mini-township has many facilities that include a sports
facility, many restaurants, hospitals, multiple schools, a park and shopping
complexes.
India has the record of having the second-highest number
of households
It
is estimated that there are around 248,408,494 households in India. India
scores the second position, right behind China. Shockingly, this number is
higher than the population of half of the world's countries.
Number of houses that are vacant
According
to a survey in 2015, it is estimated that nearly 10.2 million houses in India
are not used by anyone. They just stay vacant.
From kutcha to pucca
In
the year 1961, nearly 13.3 per cent houses had concrete structures in
India. The later years witnessed significant growth. By 2011, the number rose
to 77.5 per cent.
The market size is Ever-growing
The
India Brand Equity Foundation (IBEF) released a report according to which exponential growth is expected in the Indian
real estate market by 2020 which can reach $180 billion. The compound annual
growth rate (CAGR) at which the market size expansion is assumed is 11.2 per
cent.
Investments pour in
The
foreign direct investment (FDI) in the Indian real estate sector between April
2000 and March 2016 was $24.188 billion. Out of total inflows into the country,
the total cumulative inflows was accounted for 8.4 per cent in the construction
development sector.
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